Bayesian Capital Management LP Purchases New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Bayesian Capital Management LP purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,200 shares of the biopharmaceutical company’s stock, valued at approximately $1,187,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. increased its position in shares of Gilead Sciences by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after buying an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Gilead Sciences by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after acquiring an additional 87,482 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Gilead Sciences during the fourth quarter worth about $74,000. Eagle Asset Management Inc. boosted its stake in Gilead Sciences by 23.6% during the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after acquiring an additional 60,697 shares in the last quarter. Finally, ARGA Investment Management LP boosted its stake in Gilead Sciences by 6.2% during the fourth quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock worth $51,446,000 after acquiring an additional 37,069 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

GILD opened at $77.65 on Wednesday. The stock has a market capitalization of $96.74 billion, a price-to-earnings ratio of 216.22, a PEG ratio of 3.42 and a beta of 0.18. The company has a fifty day moving average of $68.20 and a 200 day moving average of $70.87. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08.

Analysts Set New Price Targets

Several equities research analysts recently commented on GILD shares. Cantor Fitzgerald dropped their price objective on shares of Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. UBS Group dropped their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Barclays dropped their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Monday, July 8th. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a research note on Wednesday, April 24th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Hold” and a consensus target price of $81.81.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.